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Tesla Korea launches new subscription model domestically at $6.6/month

Tesla Korea launches new subscription model domestically at $6.6/month
Tesla Korea launches new subscription model domestically at $6.6/month

Tesla Korea has reportedly rolled out a new subscription-based service named ‘premium connectivity’ in Korea on 31 March. The new service enables users to use satellite maps and video and music streaming services which mirror traffic information in real-time using the internet network of the mobile carrier. 

The monthly subscription fee for premium communication services was set at around USD 6.6. Previously Tesla has offered this option for one year for free by purchasing Model S, Model X, and the long-range performance trim for Model 3.

However, the customers who ordered the vehicle before 29 August 2019 would still be able to use the service for free. The connectivity package can be used as a 30-day trial for consumers who purchase the Model 3 Standard Range Plus and then upgraded to the package in Euros via the homepage for the full range of features.

According to sources familiar with the knowledge of the matter, the company finished reporting to the Ministry of Science and ICT the month of April and has been preparing a subscription service. The Telecommunications Ministry adopted the Telecommunications Business Act in June of last year, which reduced the entry limitations to allow non-telecommunication sectors, such as automobiles, to conduct businesses that are included incidentally in the telecommunications service.

Now, Tesla Korea has become the first company to conduct telecommunications business since the regulations have been relaxed. The company has recently announced that it would launch connectivity services in the first half of this year, but planning has taken significant time. 

Recently, the electric automaker has also become the most valuable car company in the world. The company’s average valuation over the past few months exceeded USD 150 billion last the past month. This will also allow its Fonder to gain USD 2.1B through newly unlocked 1.69 mn stock options. 

Source credit - https://biz.chosun.com/site/data/html_dir/2020/08/03/2020080301120.html